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VelocityShares 3x Inv Natural Gas ETN Message Board

  • airheadmw airheadmw May 22, 2013 11:42 PM Flag


    Hot off the press tonight, of interested to bears, see increased Jeffries comments at the bottom on nuclear output surging: A consensus of analysts expects the Energy Information Administration on Thursday will estimate a natural gas storage injection of between 90 and 94 Bcf for the reporting week that ended Friday. An addition to stocks in that range would be higher than a 75-Bcf injection seen in the comparable week in 2012 and roughly the same as the five-year-average injection of 90 Bcf, according to EIA data. As a result, the 694-Bcf deficit to 2012's level would shrink while the 83-Bcf deficit to the five-year average would stay the same. The wider range of analyst expectations spanned from an injection of 85 Bcf to one of 96 Bcf. EIA estimated a 99-Bcf build for the week that ended May 10, increasing overall stocks to 1.964 Tcf. Bentek Energy's supply/demand model is predicting an injection of 92 Bcf for the week that ended Friday, while its pipeline flow model anticipates an addition to stocks of 89 Bcf. Bentek is a unit of Platts. Jefferies & Co. analyst Subash Chandra, whose estimate of a 96 Bcf injection is at the higher end of the range, said that during the week concerned US power demand dropped by 1%, while nuclear output "surged 7% as plants returned from spring refueling and maintenance outages." According to Chandra, nuclear output was 3% above year-ago levels, and "gas and coal likely lost market share as a result." Kilduff Report analyst Mike Fitzpatrick, whose estimate of a 96-Bcf build is also at the higher end of expectations, said a net injection at this level "should renew the selloff" in the gas market.

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